Posts tagged ‘Cuba’

The historic meeting Saturday between President Barack Obama and Cuban President Raul Castro during the Summit of the Americas in Panama may be a strong signal that over 50 years of trade restrictions will soon be eased, but don’t expect US oil and gas operators on or offshore the island nation anytime soon.

Repsol has drilled what is known in the business as a “duster,” a dry hole. It was an extremely expensive duster, and it has brought into question whether Cuba will be the big oil producer that some have envisioned. In this week’s At the Wellhead column from Oilgram News, Leslie Moore Mira discusses the fallout from Repsol’s setback.